ONE:[558]Mr. Vansittart introduced some financial measures which effected a material saving. He proposed a plan for reducing the interest of the Navy Five per Cents. to four per cent. Holders not signifying their dissent were to have one hundred and five pounds in a New Four per Cent. stock, and persons dissenting were to be paid off in numerical order. By this scheme an annual saving to the public of one million one hundred and forty thousand pounds would be effected; besides a further saving of upwards of ninety thousand pounds of annual charge, which would be gained by similar reduction of the Irish Five per Cents. The high prices of the public funds obviated all difficulty in the execution of this financial operation, and the holders of the Five per Cent. stock found it expedient to acquiesce in the Minister's terms. The dissentients were in number only one thousand seven hundred and seventy-eight, and the stock held by them amounted to two million six hundred and fifteen thousand nine hundred and seventy-eight pounds, not a fifteenth part of the Five per Cent. capital. Another operation related to what was called "The Dead Weight Annuity." The amount of military and naval pensions and civil supernumeraries was about five millions annually. Accordingly Mr. Vansittart brought forward an amended scheme for relieving the immediate pressure of this dead weight by extending it over a longer term of years than the natural lives of the annuitants. For this purpose an annuity of two million eight hundred thousand pounds was appropriated out of the existing revenue for forty-five years, invested in trustees for the discharge of the then payments, which for that year were estimated at four million nine hundred thousand pounds, subject to a yearly diminution by deaths. It was computed that, according to the ordinary duration of human life, the annuities for the lives of the then holders would be equal to the annuity of two million eight hundred thousand pounds for forty-five years. The trustees were therefore empowered to sell from time to time such portions of this annuity as would provide the funds required for the payment of the dead weight, according to a computation made of the amount which would probably be due in each year. The Bank of England became the contractor for a portion of the annuity. There was no novelty of principle in the project; it was only the old one of anticipating distant resources by throwing the burden of the existing generation on the next. It had the further disadvantage of incurring a useless expense for management; whereas the Sinking Fund, amounting at the time to about five millions, might have been applied to existing exigencies, and a real saving effected.
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ONE:[128]Of all the expectants of office in the Wellington Administration, the most bitterly disappointed was the ex-Chancellor, Lord Eldon, to whom official life had from long habit become almost a necessity. He had enjoyed power long enough in reason to admit of his retirement with a contented mind; but the passion for it was never stronger than at the present moment. He hastened to London a few days after Christmas on account of rumours of a dissolution of the Cabinet. Having so often done this when there was a talk of a Ministerial crisis, he was called the "stormy petrel." Believing that he had mainly contributed to bring about the Ministerial catastrophe, he was dreadfully mortified when he saw in the newspapers the list of the new Ministers beginning thus: "Chancellor, Lord Lyndhurst." He had not set his heart this time on the office of Lord Chancellor, he would have been content with the Presidentship of the Council or Privy Seal; but his name was not found in the list at all, nor had he been consulted in any way, or informed about what was going forward during the fortnight that passed before the Ministerial arrangements were completed. This utter neglect of his claims excited his anger and indignation to the utmost, and caused him to indulge in bitter revilings and threats against the new Cabinet. The great Tory lords shared in his resentment, and felt that they were all insulted in his person. Referring to the Ministerial arrangements, he wrote:"You will observe, Dudley, Huskisson, Grant, Palmerston, and Lyndhurst (five) were all Canningites, with whom the rest were three weeks ago in most violent contest and opposition; these things are to me quite marvellous. How they are all to deal with each other's conduct, as to the late treaty with Turkey and the Navarino battle, is impossible to conjecture. As the first-fruits of this arrangement, the Corporation of London have agreed to petition Parliament to repeal the laws which affect Dissenters."
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ONE:When Parliament reassembled, Fox seized the very earliest moment to address the Chair and occupy the attention of the House. He rose at the unusually early hour of half-past two o'clock in the day, before the newly returned members had taken their oaths. Pitt himself was in this predicament, but, as soon as he had taken his oath, he rose to speak; but Fox contended that he was already in possession of the House, and, though Pitt announced that he had a message from the king, Fox persisted, and moved that the House should go into committee on the state of the nation. This allowed Pitt to speak, who declared that he had no objection to the committee; but he thought it more advisable to go into the question of India, on which subject he proposed to introduce a Bill. He then made some sharp remarks on the conduct of Fox in thus seizing, by artifice, a precedence in speaking, and on the petulance and clamour which the Opposition had displayed, and on the violent and unprecedented nature of their conduct, by which they hoped to inflame the spirit of the country and excite unnecessary jealousies. In truth, Fox and his party were now running a most unwise career. Possessed of a large majority, they were indignant that the king should have dismissed them, and thought that they could outvote the new Ministry, and drive them again from office. They had, no doubt, such a majority; but, at the same time, they had the king resolute against them. They had insulted him by their violent denunciations of his letter, and they had not, in their anger, the discernment to perceive that not only would this be made use of by their opponents to injure them, both in Parliament and out of it, but their proceeding with so much heat and violence was calculated to make them appear factiousmore concerned for their places than for the interests of the country. All this took place; the king and Ministry saw how all this would operate, and calmly awaited its effects. Fox and his party were, however, blind to the signs of the times, and carried no less than five resolutions against the Government.
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ONE:Whilst these things were happening, and but two days before the mail arrived bringing the news of the defeat at Closter-Campen, George II. died. He had, till within the last two years, enjoyed robust health. He had then a severe attack of gout, and from that time his eyes and hearing had failed. On the morning of the 25th of October he rose at his usual hour of six, drank his chocolate, inquired how the wind was, being anxious for the arrival of the mails, and then suddenly fell, uttered a groan, and expired. He was seventy-seven years of age.Notwithstanding these checks at Emsdorf and Warburg, the French obtained possession of G?ttingen and Cassel. Ferdinand attempted, but in vain, to dislodge them from G?ttingen, and the hereditary Prince, attempting to surprise the Marquis de Castries at Wesel, was repulsed with a loss of one thousand two hundred men at Closter-Campen, near that town, and was compelled to retreat. This closed the campaign, and the French took up their winter quarters at G?ttingen and Cassel.
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ONE:In the course of 1810 the French were expelled completely from the East and West Indies, and the Indian Ocean. Guadeloupe, the last of their West India Islands, was captured in February, by an expedition conducted by General Beckford and Admiral Sir A. Cochrane. In July an armament, sent out by Lord Minto from India, and headed by Lieutenant-Colonel Keating, reduced the Isle of Bourbon; and, being reinforced by a body of troops from the Cape of Good Hope, under Major-General John Abercromby and Admiral Bertie, the Isle of France, much the more important, and generally called Mauritius, surrendered on the 3rd of December. Besides[608] a vast quantity of stores and merchandise, five frigates and about thirty merchantmen were taken; and Mauritius became a permanent British colony. From this place a squadron proceeded to destroy the French factories on the coast of Madagascar, and finished by completely expelling them from those seas.
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ligula, ac luctus mi interdum a.